Ladenburg Thalmann Agrees To Acquire Securities Service Network

(RTTNews) - Ladenburg Thalmann Financial Services, Inc. (LTS), a publicly-traded diversified financial services company, said it has signed a definitive agreement to acquire Securities Service Network, Inc.

Securities Service Network is an independent broker-dealer, registered investment advisor and insurance agency based in Knoxville.

Ladenburg will pay $45 million, consisting of a $25 million cash payment and $20 million of four-year notes.

This transaction is part of Ladenburg's strategy to strengthen its position as an industry-leading network of independent brokerage and advisory firms and its market share in the industry.